Asger Risom
Elon Musk’s creation of the “America Party” has sparked criticism from Trump officials and investors, raising questions about his dual role as CEO and political disruptor.
Elon Musk’s launch of the “America Party” is drawing swift backlash from Washington and Wall Street, with concerns mounting about his ability to balance politics with his executive responsibilities.
Political Fallout and Investor Concerns
A day after Musk announced the formation of a new political party aimed at unseating Republican lawmakers who supported Donald Trump’s tax and spending bill, Treasury Secretary Scott Bessent weighed in.
“I imagine that those boards of directors did not like this announcement yesterday and will be encouraging him to focus on his business activities, not his political activities,” Bessent said on CNN.
Bessent, a Trump appointee, said Musk should leave politics and concentrate on leading Tesla and SpaceX.
He also noted that while Musk’s Department of Government Efficiency had popular principles, “Elon was not,” referencing internal polling.
Azoria Partners Postpones Tesla ETF Launch
Investor unease was evident.
Azoria Partners, which planned to launch the Azoria Tesla Convexity ETF this week, announced it would delay the offering.
CEO James Fishback, a vocal Trump supporter, said Musk’s political ambitions “pose a conflict with his full-time responsibilities as CEO.”
“I encourage the Board to meet immediately and ask Elon to clarify his political ambitions,” Fishback posted on X. “Elon left us with no other choice.”
The White House did not address Musk’s challenge directly but praised Trump’s leadership, calling him a unifier.
Trump himself suggested Musk’s criticisms stemmed from the bill removing green-energy credits for Tesla vehicles.
He has threatened to pull federal contracts and subsidies from Musk’s firms.
Feud Could Undermine GOP Unity
As reported by Reuters, Musk spent millions backing Trump’s re-election and was a frequent White House guest.
Their fallout over the bill—which cuts taxes but increases defense and border spending—has become deeply personal.
With Musk now targeting incumbents and facing pressure from investors and government officials alike, his political experiment may test not only the GOP’s unity but also his own corporate stability.
